Posted 1/18/2024, 11:43:06 AM
Younger Generations Face Uphill Battle for Wealth Creation Compared to Older Generations
- 38% of Gen Z and millennials think it's harder for them to build wealth than it was for their parents
- Boomers currently have the highest average net worth, while millennials have much less wealth partly due to recessions
- Younger generations face challenges like high inflation, expensive housing, and student debt
- 28% of Gen Z and millennials are using alternative measures like side hustles to build wealth
- The generational wealth gap is expected to narrow as younger gens inherit from boomers